The Simply Good Foods Company (NASDAQ:SMPL) Receives $21.64 Average Price Target from Brokerages

The Simply Good Foods Company (NASDAQ:SMPL) has been given a consensus recommendation of “Hold” by the fourteen research firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $21.6364.

Several equities analysts have weighed in on SMPL shares. TD Cowen lowered their price target on shares of Simply Good Foods from $20.00 to $13.00 and set a “hold” rating on the stock in a report on Friday, April 10th. Jefferies Financial Group raised shares of Simply Good Foods from a “hold” rating to a “buy” rating and lowered their price target for the company from $23.00 to $22.00 in a report on Monday, March 16th. UBS Group lowered their price target on shares of Simply Good Foods from $16.00 to $13.00 and set a “neutral” rating on the stock in a report on Friday, April 10th. Zacks Research downgraded shares of Simply Good Foods from a “hold” rating to a “strong sell” rating in a report on Monday, April 13th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Simply Good Foods from $16.00 to $13.00 and set a “hold” rating on the stock in a report on Friday, April 10th.

Insider Buying and Selling at Simply Good Foods

In related news, Director Clayton C. Daley, Jr. bought 10,000 shares of the stock in a transaction dated Thursday, May 14th. The shares were purchased at an average price of $11.78 per share, with a total value of $117,800.00. Following the completion of the acquisition, the director owned 111,743 shares of the company’s stock, valued at $1,316,332.54. This represents a 9.83% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James M. Kilts bought 80,000 shares of the stock in a transaction dated Thursday, April 23rd. The stock was bought at an average cost of $12.39 per share, for a total transaction of $991,200.00. Following the acquisition, the director directly owned 172,854 shares of the company’s stock, valued at approximately $2,141,661.06. This represents a 86.16% increase in their position. The disclosure for this purchase is available in the SEC filing. 8.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Simply Good Foods

Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its holdings in shares of Simply Good Foods by 125.4% in the second quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider’s stock worth $31,000 after buying an additional 538 shares in the last quarter. Leonteq Securities AG lifted its holdings in shares of Simply Good Foods by 96.2% in the first quarter. Leonteq Securities AG now owns 2,309 shares of the financial services provider’s stock worth $33,000 after buying an additional 1,132 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Simply Good Foods by 82.3% in the fourth quarter. Hantz Financial Services Inc. now owns 1,787 shares of the financial services provider’s stock worth $36,000 after buying an additional 807 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in shares of Simply Good Foods in the third quarter worth $36,000. Finally, Parallel Advisors LLC lifted its holdings in shares of Simply Good Foods by 167.4% in the fourth quarter. Parallel Advisors LLC now owns 2,126 shares of the financial services provider’s stock worth $43,000 after buying an additional 1,331 shares in the last quarter. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Simply Good Foods Price Performance

Shares of NASDAQ:SMPL opened at $11.69 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.06 and a quick ratio of 2.87. Simply Good Foods has a 1-year low of $10.21 and a 1-year high of $35.15. The company has a market capitalization of $1.06 billion, a P/E ratio of -9.82 and a beta of 0.21. The firm’s 50 day simple moving average is $12.82 and its two-hundred day simple moving average is $16.56.

Simply Good Foods (NASDAQ:SMPL) last issued its quarterly earnings results on Thursday, April 9th. The financial services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.05. Simply Good Foods had a negative net margin of 7.46% and a positive return on equity of 9.72%. The business had revenue of $326.01 million for the quarter, compared to the consensus estimate of $345.08 million. During the same quarter in the previous year, the firm earned $0.46 earnings per share. The company’s revenue for the quarter was down 9.4% on a year-over-year basis. Research analysts expect that Simply Good Foods will post 1.54 EPS for the current fiscal year.

Simply Good Foods Company Profile

Simply Good Foods Co (NASDAQ: SMPL) is a North American consumer packaged foods company specializing in better-for-you nutrition products. The company’s portfolio centers on two well-established brands, Atkins and Quest, which offer a range of low-carbohydrate, high-protein bars, powders, shakes, and snacks. Simply Good Foods aims to support consumers’ health and wellness goals by delivering convenient, nutrient-dense options without added sugars or artificial sweeteners.

Under the Atkins brand, the company produces meal replacements, snack bars, and ready-to-drink shakes designed for low-carb dieters.